by Frank Jossi (Energy News) A federal tax credit passed earlier this year could increase the amount of carbon being stored underground. The revamped “45Q” tax credit boosts the amount of money available to companies willing to capture and store carbon emissions in geologic formations or use CO2 to extract oil from existing wells.

The credit likely will be used by power plants, factories, ethanol producers and companies pulling greenhouse gases out of the atmosphere.

…

Interview with Great Plains Institute’s vice president of fossil energy, Brad Crabtree:

…

I think there will be a huge incentive to install CO2 compression equipment at ethanol plants to transport CO2 to where it can be stored. The ethanol industry is trying to figure out how to reduce its carbon footprint and companies could use the tax credit to invest in pipelines linked to oil producers and underground storage.

It’s cheaper to capture CO2 from an ethanol plant than from a power plant because it has a higher concentration of gas. I think there’s a chance the US ethanol industry will be the first industry in the world to capture most of its CO2 emissions.

…

Archer Daniels Midland (ADM) began storing (in 2017) 1.1 million tons of carbon emissions a year from a corn processing facility in a saline formation at its ethanol plant in Decatur, Ill. ADM is taking responsibility for those emissions but not every company will be willing to do that. READ MORE